Gold on Track for Surge To/Above 1910/GC; XAU & HUI Approaching Upside Targets.
01/07/22 Weekly Re-Lay – “Gold is reinforcing the potential to stretch this advance into Jan 9 and perpetuate a 14 – 15 trading day low-low-low-low (Dec 15) – (high; Jan 6/9, ’23) Cycle Progression.
That is corroborated by an over-arching 66 – 68-day low-low-low-high (Dec 1 – 5) – high Cycle Progression in Gold that projects a future multi-week peak for Feb 9 – 11. The midpoint of that cycle – when a reinforcing 1 – 2 week peak would be a higher probability – is on Jan 6/9.
That is reinforced by a 32 – 37-day low (Aug 22) – low (Sept 28) – low (Nov 3) – high (Dec 5) – (high; Jan 6 – 11) Cycle Progression.
The coming week’s resistance overlaps where 4 of the previous 4 weekly LHRs (1885.6 – 1895.7/GCG) and 5 of the previous 5 weekly LHRs (1885.6 – 1903.9/GCG) converge, identifying the most likely range for an intermediate peak.
A surge to that range would have Gold attacking its early-June ’22 highs – the 4th wave of lesser degree resistance from Gold’s 2022 decline…
Gold & Silver continue to build the case for a major low being set – in Sept ’22 for Silver and 4Q ’22 (Nov ’22) in Gold – the early stages of what could be a new 6 – 12 month (possibly 1 – 2 year) advance.
On a 3 – 6 month basis, Gold has been building an intriguing synergy of cycles – most projecting a high – in late-Feb/early-Mar ’23… the precise time cycles converged in 2022 & timed a decisive peak. If Gold sets a subsequent peak at that time (Feb 27 – Mar 10, ’23), it would perpetuate a 51- 52-week low-low-high-(high) Cycle Progression & complete a 50% rebound in time (34 wks down/17 wks up).
A peak at that time would also reinforce multi-year cycles that come into play later in 2023 – when a more significant peak is most likely. To reiterate, both Gold & Silver could ultimately surge much higher as confirmation to the outlook for a new 6 – 12 month advance from late-’22 into late-’23.
The Nov ’22 INSIIDE Track reiterated this potential and why the early-Sept ’22 low in Silver was likely a major ‘B’ wave low before a 1 – 2 year ‘C’ wave rally.
Gold & Silver pulled back for the first three trading days of the month and then reversed higher – maintaining their daily uptrends and preventing the new intra-month trend from turning down.
That is likely to spur a rally to monthly resistance, though daily closes above 1871.3/GCG & 24.78/SIH are needed to turn the intra-month trends up and confirm new strength. Gold could spike as high as ~1910/GCG (June ’23 high)…
The XAU & HUI remain on track for overall advances up to (or above) 135 – 137/XAU & 250 – 260/HUI. The Dec ’22 Intra-month PLLRs (which became the Jan ’23 LLRs, so they are valid until Jan 31) are at 133.98/XAU & 256.70/HUI, reinforcing those targets.
Last week’s LHRs (137.07/XAU & 261.98/HUI; valid until Jan 13) as well as the XAU’s monthly 21 Low MARC & 21 High AMAC (136.22 – 138.99/XAU) concur. The coming week’s resistance zone – at 137.29 – 139.84/XAU – corroborates.
Platinum & Palladium remain mixed with Palladium rebounding from multi-month lows as Platinum continues to rally after fulfilling a 12 – 13 week low-low-low-high-high-(low) Cycle Sequence at its early-Sept lows and perpetuating that cycle with a projected 2 – 4 week peak in early-Dec.
That corroborated & reinforced the potential for a subsequent peak in late-Feb/early-Mar ’23 – the same time when other 90/180/360-degree cycles come into play (linked to, among other turning points, the June 3 & Dec 1 highs and Sept 1 low).
Platinum pulled back into Dec 22, maintaining its overall uptrend while signaling a likely 4th wave low. That projected a new surge into the first half of January ’23 and the likely inversion of a related 18 – 19 week low-low-low-low-(high; Jan 3 – 13, ‘23) Cycle Progression.
A peak in the coming week would perpetuate a corroborating ~6-week cycle and portend a future peak ~6 weeks later… in late-Feb ’23 – that would also fulfill Platinum’s 12 – 13 week low-low-low-high-high-low-high-(high) Cycle Sequence.
Copper remains capable of seeing an overall advance to ~4.100/HG and is fulfilling analysis for this multi-month advance to stretch into Jan 9 – 13 ’23 – the latest phase of a ~10-month high-high-high-(high) Cycle Progression… and the time when Gold & Silver – as well as Platinum and the XAU/HUI Indexes could set corresponding highs.”
Gold & Silver are reinforcing the outlook for an overall advance into 1Q ’23 and have fulfilled the potential for surges into the first half of Jan ‘23. Gold is likely to surge above 1910/GC in the coming week as it confirms a 3 – 6 month (or longer) bottom in Nov ‘22. Silver cycles were fulfilled with a 1 – 2 week (or longer) peak on Jan 3 – 6, ’23… so some consolidation is expected.
Copper and Platinum are reinforcing signs of strength and fulfilling projections for rallies into (at least) Jan ‘23.
What Does Early-Jan ’23 Action Portend for Late-Feb/Early-March ‘23?
Will Platinum AND Copper Continue to Surge Beyond early-Jan ‘23?
How Soon is Silver Likely to Exceed 24.50/SI?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.